Chicago, June 15 – Credit Suisse AG, London Branch, priced $1.2 million of contingent coupon autocallable yield notes due Nov. 22, 2021 linked to the least performing of the Russell 2000 index and the S&P MidCap 400 index, according to a 424B2 filing with the Securities and Exchange Commission.
The notes pay a quarterly coupon at the rate of 17.4% per year if each index closes above its coupon barrier, 75% of its initial level, on the observation date for that quarter.
The notes will be called at par plus the coupon if each index closes above its initial level on any quarterly trigger observation date.
The payout at maturity will be par unless either index finishes below its 75% knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level.
Credit Suisse Securities (USA) LLC is the underwriter.
| Issuer: | Credit Suisse AG, London Branch
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| Issue: | Contingent coupon autocallable yield notes
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| Underlying indexes: | Russell 2000 and S&P MidCap 400
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| Amount: | $1,195,000
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| Maturity: | Nov. 22, 2021
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| Coupon: | 17.4% annual rate, payable quarterly if each index closes above coupon barrier on observation date
|
| Price: | Par
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| Payout at maturity: | Par unless either index finishes below knock-in level, in which case investors will be exposed to the decline of the least-performing index from its initial level
|
| Call: | Par plus the coupon if each index closes above its initial level on any quarterly trigger observation date
|
| Initial levels: | 1256.992 for Russell and 1578.26 for S&P MidCap
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| Coupon barrier/knock-in levels: | 942.744 for Russell and 1183.695 for S&P MidCap, 75% of initial levels
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| Pricing date: | May 15
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| Settlement date: | May 20
|
| Underwriter: | Credit Suisse Securities (USA) LLC
|
| Fees: | 1.5%
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| Cusip: | 22552W4G7
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